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SunSirs: Lack of Positive News, Domestic Epoxy Resin Dropped to a Four-year Low
June 07 2023 10:59:39SunSirs(John)

Price trend

Since May, the epoxy resin industry chain has shown a downward trend from top to bottom. Due to insufficient market demand, resin manufacturers faced significant shipping pressure, leading to a gradual accumulation of inventory in enterprises. At the same time, raw material suppliers were also facing declining market demand and downward pressure on prices. This series of events had kept the market price in a bottoming state, resulting in the price of liquid epoxy resin falling to the lowest level in four years. As of June 6, the mainstream negotiated price in East China was 12,800-13,200 RMB/ton, and the negotiated market price in Huangshan for solid epoxy resin was 12,600-13,000 RMB/ton.

Analysis review

The market atmosphere for raw material bisphenol A was light, due to sluggish downstream demand and the continuous decline of raw material phenol/acetone, the cost side was bearish, and there were few inquiries on the market for bisphenol A, with the decline being the focus. As of now, the mainstream negotiation prices in East China were at 9,000 RMB/ton, and sporadic low prices had also been heard. The negotiation prices were as low as 8,850 RMB/ton, and the market transactions were mostly small orders.

The raw material ECH continues to decline. As of the 6th, there was a bearish atmosphere in the market, and the pessimistic attitude of traders was difficult to change. Due to the weak demand situation, manufacturers had greater pressure to ship, and there were many intentions to sell at a discount, resulting in a decline in new order prices. As of the 6th, the mainstream negotiation price in Shandong was 7,500-7,600 RMB/ton.

Market outlook

There was a lack of positive support in the epoxy resin market recently. Downstream purchases were maintained with small orders according to demand, and manufacturers were still under pressure to ship, while the focus of dual raw materials was declining, making it difficult to form support on the cost side. It is expected that there is a high probability of further bottoming out in the short term on the market, and continue to pay attention to the demand side trend of upstream product levels in the industrial chain.

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